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9. The holder of a gaming machine licence may exchange that licence for another licence and be allowed credit calculated in accordance with regulation 10 below, if all the following provisions apply—
(a)an application to exchange the licence has been made in writing to the Collector at least 14 clear days before the new licence is to take effect;
(b)the old licence would have been valid for at least one month after the date the new licence is to take effect; and
(c)the new licence is to take effect at the date of the exchange.
10.—(1) The amount of credit allowed under Regulation 9 above shall be, for each complete remaining month of the old licence, an amount equal in the case of a whole, half or quarter year licence to one twelfth, one sixth or one third respectively of the duty paid on the issue of the old licence.
(2) For the purposes of this regulation the amount of any credit allowed under regulation 9 above on the issue of the old licence shall be treated as having been paid on the issue of that licence.
(3) The amount of credit shall not exceed the duty payable on the new licence.
11.—(1) Where an application has been made under regulation 9 above for credit on the exchange of a licence, no repayment of duty under paragraph 11 of Schedule 4 to the Act shall be allowed on the surrender of the old licence.
(2) For the purpose of paragraph 11 of Schedule 4 to the Act (surrender of licence) the amount of any credit allowed under regulation 9 above shall be treated as having been paid on the issue of the licence.
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